Personal Loan In UAE
We all come across situations of urgent financial requirements in our lives. Gulf Finance makes it easy for all Listed & Non Listed companies in UAE to apply for best loans at lowest interest rates. The are several categories for opting a Personal Loan in UAE, those are Salary Transfer Loan, Loan without Salary Transfer, Buyout Loan or Debt Consolidation, Loan against Credit Card. All these all you can apply in just a click from the comfort of your home.
Salary Transfer Loan
A salary transfer loan is considered to be a secured loan for a bank. Your salary gets transferred to the bank you take your loan from. As salary transfer loan makes the process easy and secure, the interest rates as compared to a Non Salary Transfer Loan is usually lower. However, as different banks have different policy and structure, this may differ from bank to bank. Ensure to Apply with Gulf finance and get call now!
Non Salary Transfer Loan
Sometimes, you only require a small loan without salary transfer. Personal Loan without Salary Transfer is possible for both listed and non listed companies. In this case skip the hassle of transferring you salary to the lending Bank. There are many banks and financial institutions offering non-salary transfer loans at low interest rates. Apply with Gulf Finance and get a quote for a Loan without salary transfer in 60 mins!
Buyout or Debt Consolidation
Sometimes we get stuck with the liability of paying multiple loans or even outstanding credit card debt and they have all varying balances due at different interest rates. In such a case, banks offer you an option of Buyout or Debt Consolidation where the bank consolidate all your liabilities and you only have one loan and one installment to pay. The bank gives you one single loan for an eligible amount as per your need, using which you can pay off all your past dues. It makes it easier to work out a time frame to pay off your debt without getting overwhelmed.
If ever you fall in urgent need of funds to pay off your debts, have some kind of unforeseen medical emergency, willing to renovate your home or planning a vacation, a personal loan can be a ‘great option' to pay for such expenses. The advantage can also be availed to meet other requirements such as:
- Pay off credit cards : Credit card interest rates are usually higher than the interest on Personal Loan. In case you have been trying to pay it off but struggling due to the increasing amount, you can opt for a personal loan to pay it off and then pay back the loan amount to the bank according to specified personal loan installment every month.
- Home renovation :Whether you want to put a new roof, install solar panels, remodel your kitchen or add a swimming pool, landscaping or hardscaping, a personal loan can help.
- For your wedding preparation :A wedding loan can be used for items as big as the venue and the bride's dress and also for smaller expenses like flowers, photography, cake and a wedding coordinator.
- Money for moving expenses :Local moves aren’t costly. But long distance relocations sometimes can be expensive enough to warrant a personal loan.
- Pay medical bills :Medical expenses have tremendously grown during the decade. Treatments like cosmetic surgery, fertility, etc. are all expensive enough to be in reach of a normal household. Personal loans can help meeting such requirements.
- To start a business on the side :Yes, this is right. Banks loans are there to help you if you have some plans to start with your own business. You do not have to delay it any further!
- Vacations :There are times you want to plan and visit your dream destinations, relax and rejuvenate. But the finances at that time aren’t favoring. In such times, a Personal Loan will help you fulfil your needs.
Eligibility Criteria of Personal Loan in UAE:
- The applicant needs to be of minimum 21 years.
- The minimum Salary of the applicant should be AED 5000.
- The applicant should be a confirmed employee in the company.
- The maximum age for applicant who is UAE nationals at the time of loan maturity is 60 years. For expatriates the maximum age can be 65 years.
- Interest rate starting from minimum 2.79% to up to 15.99%
- Additional documents as per Bank & Financial institutions